GPGPU is the way to go.

Not terribly hard if you only need 1-2 formats supported, e.g. RGBA8 only. You don't need to port the complete codec, only some initial portion of the pipeline and stream data back from GPUs, the last steps with lossless compression of the stream ain't a good fit for GPUs.

If you want the code to run on a web server, after you'll debug the encoder your next problem is where to deploy. NVidia teslas are frickin expensive. If you wanna run on public clouds, I'd consider their VMs with AMD GPUs.